What are the responsibilities and job description for the Loan Processor position at Iowa State Bank?
Description/Job Summary
Responsible for providing support to loan officers by preparing and processing documents associated with loan transactions.
Location: Parkersburg or Clarksville
Status: Full time
Hours Needed: Schedule varies between the hours of Mon-Fri, 8:00am - 5:00pm
Responsibilities/Duties
- Provide administrative support to loan officers and bank customers by answering phone calls, emails, and in-person requests for information.
- Responsible for generating documents and processing a variety of loan and mortgage related tasks including:
- Receive new credit files from loan officers and manage the loan document process from application to closing.
- Order credit reports, appraisals, title work, insurance, flood determination, and any other documentation as requested by the loan officer.
- Prepare preliminary loan disclosures as well as final loan documents for closing.
- Coordinate loan closings with loan officers, closing agents, and customers.
- Prepare documentation for loan modifications, extensions, and renewals.
- Disburse loan proceeds and facilitate investor funding of secondary market loans.
- Perform data entry / input and loan maintenance on core systems while verifying accuracy of loan documentation for all loans.
- Send original documents to secondary market investors such as notes, recorded mortgages, and final title work.
- Send collateral documents to proper office/authority for recording and/or filing in a timely manner to ensure proper lien perfection.
- Maintain and demonstrate proficiency with loan software applications. Collaborate with supervisor to utilize applications to fullest capacity, streamlining processes and procedures, and ensuring accuracy and compliance.
- Prepare, maintain, and monitor various internal reports and tracking spreadsheets as needed.
- Other duties as assigned.
Preferred Skills
Skill in oral and written communication.
High attention to detail and strong clerical skills.
Ability to maintain a high level of confidentiality.
Ability to demonstrate accuracy and efficiency in a high-paced environment.
Ability to work with strict deadlines.
Ability to function as a team player.
Preferred Experience
Knowledge of lending products, policies, and procedures.
High school graduate or equivalent.
